- As of 6.30am CT. the U.S. dollar was up .050 at 95.500, crude oil is up $0.29 at $48.53 per barrel, and the DOW is down 7 at 18,212.
- 1-5 day weather forecasts continues to look wet for most of the Corn Belt. 0.25″ – 1″ is expected this week across IA, IL, IN, and OH.
- Corn had a light volume trade overnight, trading in just a 3 ½ cent range. December Corn is currently at the bottom end of its range.
- Friday’s Quarterly Stocks report has corn at 1.738bb, versus average trade estimate of 1.754; a slightly supportive figure for corn futures.
- The Commitment of Trader report showed large speculators and funds as dedicated sellers, selling an additional 29,000 contracts, now holding a net short position of 192,000 as of Tuesday, Sep. 27th.
- The Commitment of Traders report show large speculators and funds cut their long positions in half over the previous week, now holding a net long position of 29,000 contracts.
- Malaysian palm oil futures and Chinese markets are closed and consequently unchanged from last week due to a Holiday.
- Friday’s Quarterly Stocks report has soybeans at 197mb, versus that average trade estimate of 201mb; a slightly supportive figure for soybean futures.
- The Commitment of Traders report shows large speculators and funds sold 1,000 contracts and are net short 145,000 Chicago Wheat contracts.
- Chicago and KC are 2 – 3 cents lower and Mpls is unchanged as we near the end of the overnight session.
- Friday’s Quarterly Stocks report has wheat at 2.527bb, versus the average trade estimate of 2.397bb; a bearish figure for wheat futures.